The New Straits Times

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from January 01, 2004
Last Document: December 19, 2014

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The New Straits Times, December 19, 2014

News

Ncia Preparing Food Security Master Plan

GEORGE TOWN: The Northern Corridor Implementation Authority (NCIA) is developing a food production and security blueprint on ways to boost food self-reliance in the northern states of Perak, Penang, Kedah and Perlis. NCIA chief executive Datuk Redza Rafiq said the master plan would be presented to the NCIA council, chaired by Prime Minister Datuk Seri Najib Razak, by the middle of next year.

Mdv Expands Core Funding to Include Growth Sectors

KUALA LUMPUR: Malaysia Debt Ventures Bhd (MDV), a technology financier, has expanded its core funding business to include growth sectors such as oil and gas, aviation and aerospace and nanotechnology. Deputy Finance Minister Datuk Ahmad Maslan said the new corporate strategy would enable MDV to become the leading technology financier in the country.

Texchem: Gst to Benefit Restaurant Business

KUALA LUMPUR: Texchem Resources Bhd says the implementation of the Goods and Services Tax (GST) next year will benefit its restaurant business as it can claim input tax from the Customs Department. "Currently, we collect a six per cent sales tax for the government. After April 2015, we will continue to collect the six per cent for the government but this time, we can claim input tax credit.

Too Early to Tell

KUALA LUMPUR: TENAGA Nasional Bhd (TNB) is assessing the impact of the falling ringgit and global oil prices on its operations and finances as it finalises its first-quarter results. TNB chief financial officer Fazlur Rahman Zainuddin said the weakening ringgit would cause a translation loss for the group but maintained that it was too early to make any estimates.

Bursa Up 18 Points, Resumes Recovery

KUALA LUMPUR: Bursa Malaysia's bearish mood was lifted yesterday, with the benchmark index gaining nearly 20 points after the United States central bank announced a "patient" stance on rate hike. The FTSE Bursa Malaysia KLCI gained 18.05 points to close at 1,699.95 as it continued to build on Wednesday's recovery.

Genting Shares Slip Nearly 3pc

KUALA LUMPUR: SHARES of Genting Malaysia fell nearly three per cent yesterday after its unit, RW Orange Country LCC, failed to win a casino licence in New York. The stock closed 12 sen lower at RM3.95 with 9.9 million shares traded.

Ioi Prop Upbeat On Taipei 101 Bid

PUTRAJAYA: IOI Properties Group Bhd is confident its plan to buy a 37.17 per cent stake in Taipei Financial Centre Corp (TFCC) for RM2.74 billion will get the nod from the Taiwanese government as it does not have China-related participation. IOI Properties is looking to buy the stake in TFCC, which owns the iconic Taipei 101 tower, from Ting Hsin International Group, Taipei 101 consists of a mall and office tower and its tenants include the Taiwan Stock Exchange, multinational financial insti...

Owg Closes 3.5 Sen Higher On Debut

KUALA LUMPUR: Leisure and hospitality-based Only World Group Holdings Bhd (OWG) closed at a slight premium of 3.5 sen over its 88 sen offer price following its debut on Bursa Malaysia yesterday. The stock opened flat at 88 sen with its first traded volume standing at 1.94 million shares, before closing at 91.5 sen.

Making the Reit Investments

KUALA LUMPUR: IT will not be all doom and gloom for Malaysian real estate investment trusts (REITs) next year, with a potential upside from the injection of new assets and extensive refurbishment of existing portfolio assets in the past 12 months. There are currently 16 REITs listed on Bursa Malaysia and the largest player is KLCC Stapled Group, which has property assets in excess of RM12 billion.

`No Material Impact From Gst'

AXIS REIT Managers Bhd (ARMB) says its study has shown that the six per cent Goods and Services Tax (GST) will not have any material impact on Malaysian real estate investment trusts (REITs). "I have always maintained that Malaysian REITs have performed well in the past and will continue to do so moving forward. Most REITs have their income in ringgit and are not subject to the volatility of the currency at the moment.

Teraju, Maybank Ink Rm600m Funding Deal

PUTRAJAYA: BUMIPUTERA Agenda Steering Unit (Teraju) has forged a partnership with Maybank Islamic Bhd to provide RM600 million funding to high-performing Bumiputera small and medium enterprises (SMEs). The fund will assist SMEs obtain working capital to grow their businesses and buy assets.

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